subject Entrepreneurship please provide answer within 2 hour and give me detail solution because this Question has 7 number.

Amara owns a small optics firm named Kashmir optics about 11 months ago the company invented a new product that has sold extremely well to consumer in a localized area. Amara has decided to wait a year to see how the product does and will then apply for a patent if the product appears to have a good future. Is this a good approach for Amara to follow? Why or why not?